Oculis (NASDAQ:OCS) Stock Price Up 7.2% – Here’s Why

Oculis Holding AG (NASDAQ:OCS) traded up 7.2% during mid-day trading on Wednesday . The company traded as high as $12.87 and last traded at $13.1750. 948,993 shares traded hands during mid-day trading, an increase of 101% from the average session volume of 472,034 shares. The stock had previously closed at $12.29.

Analyst Upgrades and Downgrades

Several research firms have commented on OCS. HC Wainwright reduced their price objective on Oculis from $47.00 to $26.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oculis in a research note on Tuesday, April 21st. Needham & Company LLC reduced their price objective on Oculis from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday. Stifel Nicolaus reduced their price objective on Oculis from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday. Finally, Guggenheim reduced their price objective on Oculis from $75.00 to $45.00 and set a “buy” rating for the company in a research note on Monday. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Oculis Trading Up 8.2%

The company has a 50 day simple moving average of $27.46 and a 200 day simple moving average of $25.18. The company has a current ratio of 5.18, a quick ratio of 5.18 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $771.19 million, a PE ratio of -6.26 and a beta of 0.23.

Oculis (NASDAQ:OCS) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.14). The company had revenue of $0.26 million for the quarter, compared to analysts’ expectations of $0.25 million. Oculis had a negative net margin of 8,460.67% and a negative return on equity of 56.78%. Analysts predict that Oculis Holding AG will post -2.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oculis

A number of large investors have recently modified their holdings of OCS. Geode Capital Management LLC raised its stake in shares of Oculis by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after buying an additional 6,384 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Oculis during the 2nd quarter worth approximately $393,000. Bank of America Corp DE raised its stake in shares of Oculis by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after buying an additional 878 shares in the last quarter. Woodline Partners LP raised its stake in shares of Oculis by 65.8% during the 3rd quarter. Woodline Partners LP now owns 83,833 shares of the company’s stock worth $1,474,000 after buying an additional 33,265 shares in the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in shares of Oculis during the 4th quarter worth approximately $80,000. 22.30% of the stock is owned by hedge funds and other institutional investors.

About Oculis

Oculis SA (NASDAQ: OCS) is a clinical-stage biopharmaceutical company focused on developing novel ophthalmic therapies designed primarily to treat retinal and neuro-ophthalmic diseases. Leveraging its proprietary technology platforms, Oculis aims to deliver therapeutic agents to the back of the eye through topical or nasal administration, potentially offering an alternative to current intravitreal injections. The company’s pipeline includes OCS-01, a topical dexamethasone formulation targeting diabetic macular edema; OCS-05, a neuroprotective candidate for acute optic neuritis and idiopathic intracranial hypertension; and OC-02, a nasal spray formulation of varenicline for dry eye disease.

Founded in 2016 and headquartered in Basel, Switzerland, Oculis operates research and development facilities across Europe and in the United States, with a presence in Cambridge, Massachusetts.